TaylorMade to acquire Adams Golf
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TaylorMade have announced an agreement to buy Adams Golf for a total of around $70 million.
The deal will see Adams Golf, which was founded in 1987 by Barney Adams, wholly owned by the TaylorMade adidas Golf group and, according to TaylorMade, allow the company to target more golfers with its product.
It is understood Adams Golf will continue to operate under a separate brand name rather than being dismantled and merged with the TaylorMade brand.
“This acquisition reflects our commitment to continued growth in the golf category,” said adidas Group CEO Herbert Hainer. “The proposed combination of Adams Golf and TaylorMade-adidas Golf brings together two highly complementary sets of brands, combining Adams’ focus on game-improvement as well as senior and women golfers with TaylorMade-adidas Golf’s focus on the younger and the low-to-mid handicap golfer.”
“We are very excited to team up with Adams Golf, whose management team we have respected for many years,” commented Mark King, President and CEO of TaylorMade-adidas Golf. “Our mission is to be the best golf company in the world across all geographies, products and customer demographics, and adding Adams Golf is another important step in achieving that goal.”
“This merger provides strong opportunities for our employees, suppliers and partners,” said Barney Adams, Interim CEO of Adams Golf. “The Adams Golf brand will fit nicely into TaylorMade-adidas Golf’s stable of brands, and together we will be able to increase our reach and better serve our customers by leveraging a wider set of resources. We are also excited that TaylorMade-adidas Golf has decided to maintain Adams Golf’s headquarters in Plano, Texas.”
Adams Golf is well-known as an industry-leading hybrid brand and has been making recent inroads into the UK market following high levels of success in the US and many of its products have been performing well in the Today’s Golfer tests.
